US gasoline and diesel price movements: Week ending 7 July 2014

Gasoline

The US average retail price of gasoline has decreased three cents this week to US$ 3.68/gal. as of 7 July 2014, 19 cents more than the same time last year.

Prices fell in the Midwest by six cents to US$ 3.61/gal., and on the Gulf Coast and East Coast by two cents, to US$ 3.46/gal. and US$ 3.66/gal., respectively. West Coast prices increased by less than a cent, remaining at US$ 4.04/gal., and prices in the Rocky Mountains rose by one cent to US$ 3.64/gal.

Diesel

The national average diesel fuel price decreased by one cent to US$ 3.91/gal., nine cents more than the same time last year.

Prices decreased in all regions of the country. The Midwest, Gulf Coast, and Rocky Mountain prices all decreased by one cent, to US$ 3.86/gal., US$ 3.80/gal., and US$ 3.91/gal, respectively. Prices on the East and West Coasts fell by less than a penny, remaining at US$ 3.98 and US$ 4.07 respectively.

Propane inventories

According to the EIA, US propane stocks increased by 3.8 million bbls last week, to 60.1 million bbls as of 4 July 2014, 2.7 million bbls (4.7%) higher than a year ago.

Gulf Coast inventories increased by 1.9 million bbls and Midwest inventories by 1.4 million bbls. East Coast inventories increased by 0.5 million bbls while Rocky Mountain/West Coast inventories remained unchanged.

Propylene non-fuel use inventories represented 7.0% of total propane inventories.